PARIS (Reuters)-European scholarships ended up on Friday, investors positively welcoming the ceasefire in the Middle East and progress on the commercial front.

In Paris, the CAC 40 increased by 1.74% to 7,688.92 points, while the German Dax rose 1.48% and the British footsia increased by 0.66%.

The Eurostoxx 50 index finished the session on an increase of 1.32%, while the FTSEUROFIT 300 scored a gain of 1.04%and that the Stoxx 600 took 1.09%.

The fragile ceasefire between Israel and Iran holds and makes it possible to lower the pressure on oil prices, reassuring the markets at this weekend.

Progress also seems to appear on the front of trade tensions with the United States, the president of the European Commission, Ursula von der Leyen, having indicated having received on Thursday the “last document of the United States” relating to the negotiations on customs duties.

The markets quickly watched on the other side of the Atlantic on Friday to scrutinize the inflation figures in the United States for May, rather online with expectations, but also reflecting a contraction in consumer spending.

Analysts and economists refine their anticipations of falling rates of the American federal reserve (Fed) when reading these figures, while votes are heard for a drop in July and that Jerome Powell, president of the Central Bank, repeats that he still intends to wait.

“For the Fed, which says that they are looking for hard figures attesting to a degradation of the activity, this should be an additional confirmation that the economy suffers because of the increase in customs duties” considers in a note, Bastien Drut, responsible for strategy and economic studies at CPRAM.

The institution, which opted for the status quo in June, still provides two drops this year later while the markets now estimate at more than 20% a drop in rates in July against less than 15% the previous week.

“Fears of inflation linked to customs duties should encourage the Fed not to move for the moment, but the arguments in favor of a drop in rates are multiplying,” summarizes ING analysts in a note on Friday.

In this context, the US employment data next week are eagerly awaited, any weakening would then be interpreted as an argument in addition to a favor of a faster than anticipated rate.

VALUES

Puma and took 3.12% and 3.69% respectively after the best than expected prospects published Thursday by their American rival Nike. In London, JD Sports increased by 7.29%.

In France, Worldline recorded the worst performance in the SBF 120 losing 8.53% after Belgian justice announced the opening of a survey on the local payment group.

Schneider Electric posted the best performance in the CAC 40, with a gain of 6.29%, after its director reassured investors on Thursday during a post-market exchange.

A Wall Street

At the time of the fence in Europe, exchanges at the New York Stock Exchange indicated an increase of 0.97% for the Dow Jones, against 0.62% for the Standard & Poor’s 500, and 0.61% for the Nasdaq Composite.

The indicators of the day

Inflation in France has increased more than expected over one year in June to +0.8%, according to preliminary data published Friday by INSEE, while household consumption expenses slowed down than expected. The drop in production prices attended in May.

In the euro zone, the economic feeling deteriorated unexpectedly in June with a stronger erosion than anticipated morale in the industry sector, showed the data published by the European Commission.

In the United States, consumer prices have increased at the expected speed over one year in May, showed the data published by the Commerce Department, which also reflect a faster increase than expected of underlying inflation and a drop in household consumption expenses.

The morale of American households improved in June, according to the final results of the monthly survey of the University of Michigan.

Changes

The dollar, slightly rising, fell to the lowest against the euro during the session since 2021 after the publication of US inflation.

The dollar earns 0.13% against a basket of reference currencies, the euro rises from 0.13% to 1.1714 dollars, and the pound sterling lost 0.11% to 1.3712 dollars.

RATE

American returns are slightly increased, investors evaluating the probable decisions of monetary policy of the Fed.

Treasury’s yield at ten years takes 1.6 pb to 4.269%, while the two -year title yield increased from 3.3 pb to 3.748%.

The yield of ten years German lost 0.3 bp to 2.594% like that of the rate at two years to 1.862%.

OIL

Oil, rebounded on Friday, records a weekly drop with the ceasefire between Israel and Iran which reduces fears of black gold supply disruption.

Brent increased by 0.97% to 68.39 dollars per barrel, the American light crude (West Texas Intermediate, WTI) adds to 1.23% to $ 66.04.

To be continued on Saturday June 28:

The situation on the markets

(Some data may accuse a slight offset)

(Written by Bertrand de Meyer, edited by Zhifan Liu)

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